Many BFL Clients suffer from slow paying or non-paying customer’s .Whilst most have signed a simple agreement or a contract agreeing to terms of business the ability to fall into arrears or simply their inability to pay can cause cash flow issues.
BFL is a specialist consultancy agency and works in the non regulated sector and does not therefore work on debt relating to the Consumer Credit Act. In most cases it is simply a matter of building relationships with your customer to obtain an agreement to pay either in full or an agreed payment term. Where your customers are experiencing serious financial difficulty BFL will assess vulnerability and agree a payment plan that is genuinely affordable and manageable. Most of these payment plans are agreed for a 3 to 6 month temporary period to assist customers in their personal circumstance and may involve a home visit in order to prepare a declaration of their Income and Expenditure to satisfy the payment terms that have been agreed.
Whilst the relationship between client and customer may have broken down BFL will ensure that by Building back the relationship and by fostering excellent levels of communication there will be a two way learning process. Customers will understand that an outstanding account is ultimately repayable and can be repaid over a period of time and in agreement with their Account Manager who will manage the payment plan and relationship through the lifetime of the agreement personally.